RCOM’s tower subsidiary, Reliance Infratel, has revived its plans to get listed on the stock market and has filed a draft red herring prospectus with the Securities and Exchange Board of India.

RCOM’s tower subsidiary, Reliance Infratel, has revived its plans to get listed on the stock market and has filed a draft red herring prospectus with the Securities and Exchange Board of India. The company will be selling 10 per cent of its equity (156 million shares) through an initial public offering (IPO). The company, which is expecting to raise about Rs 50 billion through the IPO, plans to utilise these funds for paying off debt, for expansion, and for joint ventures (JVs) and acquisitions. JM Financial, JP Morgan, Deutsche Bank, Enam Securities, HSBC, ICICI Securities, Macquarie and UBS have been appointed as the managers for the offer.